The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
4- mm Oldest Financial Journal Serving The Central and W estern States • '•- 4| A + 4 m A » ♦ > No. 1130 ■ ' Des Moines, Iowa Supervisors Propose Security R egulations The three federal banking agencies and the Federal Home Loan Bank Board each issued on November 8 for public com ment proposed regulations im plementing the Bank Protection Act of 1968. After consideration of these comments, the agencies plan to publish final regulations by January 6, 1969, as required by Public Law 90—389, which was signed by President John son on July 7, 1968. The four regulatory authori ties—the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, and the Federal Home Loan Bank Board—con sulted with each other exten sively in formulating their drafts. The staffs of the four agen cies received advice from law enforcement officers, banks, equipment manufacturers, and trade associations. The pro posed regulations differ with each other in some details, but each requires affected insti tutions to: 1. Designate a security of ficer; . ■ ■"■■ ' 2. Develop a written security program spelling out in detail the security procedures for each office of the institution; 3. Install lights, door locks, surveillance system s, and rob bery and burglary alarms; 4. Submit an annual certifi cation of compliance with the regulations, and report wheneve r a robbery, burglary, or larceny is attempted. Bank Employees Strike. . . Twenty non-supervisory em ployees of the First National Bank of Rice Lake, W is., struck the bank early this month after rejecting the bank’ s latest wage offer. There had been nine negotiating meetings between bank officials and union repre sentatives since Retail Clerks Union Local 1116 organized the employees July 17. While the employees picketed the bank, supervisors operated tlie bank, the largest in Barron County. Elmer Einum, executive vice president and cashier, said the drive-in facility had to be • - '- ' '■ " I__________________I November 18,1968 closed. No progress had been reported in negotiations late last week. Credit Card Survey. . . The November issue of the Northwestern Banker, now in the mails, contains an exclusive survey titled “ Should Smaller Banks Offer a Bank Charge Card?” Executive officers of the nation’ s leading bank card systems were asked to detail reasons why a bank of under $25 million should offer a charge card. Their replies are in this survey. In addition, the survey con tains latest news from the bank charge card front, including the following: 1. Central States Bank Card Association in Minneapolis-St. Paul announced its affiliation with Master Charge and Inter bank. 2. Midwest Bank Card Sys tem, Chicago, intends to af filiate with Interbank and speculation is that it will also go Master Charge. 3. Bankmark of St. Louis an(Continued on Page 4) Always the FIRST to serve you We’re always ready. Loans, Securities, Trusts, Transit & Collection Service, Operational Services, Credit Information. We’re ready with them first! > https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis First National Bank o f Omaha We're here to help you get what you want IOWA-DES MOINES NATIONAL BANK Jerry Nelson Member Federal Deposit Insurance Corporation d BURGLAR ALARMS 9 Banks, Holdup Cameras Telephone 515 / 262—8209 2905 Delaware Ave. Des Moines. Iowa IOWA NEWS AMANA: Benton and Iowa county bankers will meet Tuesday eve ning, November 19, at the Ox Yoke Inn in the Amana C olonies. CEDAR RAPIDS: Lawrence E. McGrath has been appointed to manage the new office of the P eoples Bank and Trust Company, Peoples East. He has most recent ly been serving as cashier at the City National Bank here. DES MOINES: Carey W. Young has been elected assistant cashier in charge of the installment loan de partment at the Plaza State Bank. He was formerly public relations manager at the bank. DES MOINES: The Iowa Bankers A ssociation will hold its 21st annual Tax School at the Hotel Fort Des Moines here on Monday, November 25, and Tuesday, Novem ber 26. FORT DODGE: The First Nation al Bank has filed an application with the Comptroller of the Cur rency for permission to establish an office at Avenue O and Tower Drive here. HAWKEYE: Stockholders of the Citizens Savings Bank have voted a 100% stock split. The split has been approved by the State Bank ing Department and the Federal Deposit Insurance Corporation. KIMBALLTON: Landmands Nation al Bank has purchased the $33,000 bonds offered by EH-K School District. The bonds will pay 4% interest. NORA SPRINGS: Application of the First State Bank to change the location of its Chickasaw Street office from 221 to 211 Chick asaw Street here has been ap proved by the FDIC. ST. ANSGAR: Mrs. Julius Kittleson, assistant cashier at the St. Ansgar C itizens State Bank, has retired. She joined the bank staff in 1954 as a secretary and teller and was promoted to a s s is tant cashier in I960. Freese of Lowden, Iowa, has accepted a position in the First Trust and Savings Bank here, e f fective December 1. WILLIAMS: T. H. Lekwa has re tired from the Williams Savings Bank after a banking career of nearly 43 years. He started his career at the State Bank of Dows in 1925 and joined the Williams Savings Bank in 1933. He has been serving as bank vice pres ident for the past five years. NEBRASKA NEWS OMAHA: James L. Allen, a s s is tant loan officer at the Omaha National Bank, has been promoted to loan officer. He joined the bank in 1951. The board of directors of the Omaha National Bank has de clared a sp ecia l dividend of 25 cents per share, payable Decem ber 14 to stockholders of record November 29. Directors also d e clared a regular quarterly payment of 35 cents a share, payable December 14. OMAHA: The Bank Management Committee of the Nebraska Bank ers A ssociation will sponsor the second annual Small Bank Pres idents’ Seminar for managing of ficers of banks with deposits up to $2,500,000 at the Clarke Hotel, Hastings, Nebr., on December 3—4. Registration fee of $20 will cover all meals and so cia l hour. The seminar will open with a so cia l hour anddinner at 6 p.m. on Decem ber 3 and will adjourn at 4 p.m. on December 4. TILDEN: Charles A. Sullivan re signed as vice president of the Tilden Bank November 1. MINNESOTA NEWS WHEATLAND: Gary F. McClintock, formerly associated with the law firm of Norton, McClintock and Leo Kane ‘WE H AVE WHAT YOU WANT in a correspondent bank’ american trust and sa v in g s b a n k 9TH AND MAIN, DUBUQUE, IOWA MEMBER: FDIC • FRS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CURRIE: The Currie State Bank will hold an open house in its LINCOLN ...EDP Accounting with a Personal Touch FIRST NATIONAL BANK & TRUST COMPANY OF LINCOLN 1 2 th & . N S t r e e t • L IN C O L N , N E B R A S K A • M em ber: F .D .I.C . completely remodeled building on November 23. MINNEAPOLIS: The Midwest Bank ing Institute is the new name for the tri-state Rural Banking School on the Morris campus of the Uni versity of Minnesota. According to Truman L. Jeffers, secretary of the Minnesota Bankers A ss o c i ation, the name of the sch ool was changed to “ reflect the compre hensive aspects of the educational program at the s ch o o l.” SPRINGFIELD: The board of direc tors of the Farmers and Merchants State Bank has approved plans for a new bank building. Site of the new building will be one block north of the bank’ s present quar ters. WORTHINGTON: Dynasonics Cor poration of Minnesota, manufac turer of ultrasonic cleaning equip ment, has purchased majority inter est in the State Bank of Worthing ton from M. R. Kloster and a s s o c i ates. No personnel changes are anticipated at the bank. ZUMBROTA: Baldwin Reppe has resigned as cashier at the Farm ers Security State Bank. He will remain a director of the bank and continue in an active capacity. Mr. Richard Wedge has been named cashier. He joined the bank in 1964 and currently has been serving as assistant cash ier. SOUTH DAKOTA NEWS VALLEY SPRINGS: Plans have been completed and work will begin soon on an addition to the Valley Springs office of the United National Bank of Brandon. The new addition will be located east of the present building. ILLINOIS NEWS CHICAGO: The Continental Illinois National Bank and Trust Company has approved in principle plans to form a one-bank holding company which would acquire control of the bank and be in a position to invest in financially related business enterprises. A s yet, no decision has been made on the name of the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis holding company, which will not affect present bank operations and personnel. CHICAGO: Joe W. Wescott, 70, re tired assistant v ice president, Harris Trust and Savings Bank, died November 2. He retired from the bank in 1963. CHICAGO: John T. Borman has been elected vice president in charge of the FirstCard department at the First National Bank, e ffe c tive today. Prior to joining the bank, he was v ice president of the American Express Company. William J. Watson has been named assistant manager of the bank’ s Frankfurt office. He has been with the bank since 1964. Application of the First National to establish an office in Brussels has been approved by the FDIC. COLLINSVILLE: Shareholders with controlling interest in the State Bank of C ollin sville have con tracted to s e ll their holdings to a group of investors represented by William M. Van Cleve. The group includes Mrs. Robert L. Sweney, Mrs. John J. Goebel, Mrs. John B. Prentis, Mrs. Van C leve and Hen ry Weiman, all of St. L ouis, and James P. Sweney of Litchfield, 111. The sale is Expected to be completed by January. No changes in bank personnel are anticipated. JOLIET: A charter for a state bank has been issued to East Joliet Bank by Roland Blaha, Illinois commissioner for banks and trust companies. Capitalization of $660,000 is made up of $275,000 in capital, $275,000 in surplus and $110,000 in reserves. President is Louis Fish. Cashier is Stuart C. Kroesch. PEORIA: A charter has been is sued for Pioneer State Bank, with total capital funds of $750,000This is comprised of $300,000 in capital, $300,000 surplus and DICK WEYRAUCH AL HIGHUM Your ‘1st Team’ for correspondent service in SOUTHERN M IN N E SOTA and IOWA call 612-334-4141 First National BANK OF MINNEAPOLIS _______________ MEMBER F.D.I.C.____________ $150,000 reserves. Officers are Timothy W. Swain, chairman and president, and John P. Dunleavey, vice president and cashier. The bank’ s application for federal deposit insurance has been ap proved by the FDIC. PROPHETSTOWN: Funeral ser vices were held last week for Frank Dudley, president of the Farmers National Bank. COLORADO NEWS COLORADO SPRINGS: Two men robbed the Northern National Bank here of nearly $30,000 on Novem ber 7. No bank personnel were injured. FRANK S IB E R T... A GOOD MAN TO KNOW WHEN YOU NEED SPECIAL HELP Omaha, Nebraska Member F D IC WANT ADS Rates 25 cents per word per insertion. Minimum: 12 words. NORTHWESTERN BANKER 306 15th St., Des Moines, Iowa SEEKING A NEW CHALLENGE? If you are interested in changing positions or in entering the bank ing field, we have requisitions for Vice Presidents, Loan Officers, Trainees, President of a $42,000,000 bank, Trust Officer of a $45,000,000 bank, as well as many others. Write Mrs. Harriette Allison for an application form — no charge to you as we are re tained by the employing bank. BANKERS SERVICE CORPORATION "SERVING BANKS AN D BANKERS SINCE 1 9 4 8 " 1301 R & T BLDG. PHONE 515— 244-3113 /RK Gross Co BANK PLANNING Waterloo, Iowa DENVER: Eugene Adams, pres ident of the First National Bank of Denver, has been named to a one-year term as president of the Colorado A ssociation of Com merce and Industry. WYOMING NEWS G ILLETTE: The First National Bank has announced plans for a new bank building. Construction is expected to begin this spring. SHERIDAN: Jack M. P elissier has been named assistant to the pres ident of the Bank of Commerce, ef- DES MOINES, IOWA 50309 fective December 1. He will repre sent the bank primarily in the field of public and customer relations. Mr. P elissier was a s sociated with the FBI as a special agent for over 25 years and had currently been associated with the Wyoming department of pro bation and parole in a super visory position. Credit Card S urvey... (Continued from Page 1) nounced its affiliation with Inter bank. 4. First National City Bank of New York and Valley National of Arizona both have joined Master Charge and Interbank. 5. Bankers Trust of New York and First National of Arizona both signed with BankAmericard. All these developments took place during the first week in November. C H ILES &COMPANY MEMBER, MIDWEST STOCK EXCHANGE 412 Farm Credit Building, Omaha, Nebraska 68102 Phone 346-6677 (Area Code 402) Teletype 402 348-1040 Other Offices Located in LINCOLN Nebraska CENTRAL # * NATIONAL LEXINGTON Nebraska BANK . AND VERMILLION South Dakota TRUST M e m b e r F e d e ra l D e p o s i t I n s u r a n c e C o r p o r a t i o n COMPANY AVAILABLE Several qualified men who want to move ahead —willing to relocate: 1) Assistant V ice President, 35, 15 years in all phases small-town bank operation; 2) V ice President and General Manager, 33, experi enced Federal Reserve Bank, trust department, loans. Courses in bank ing, insurance and real estate; 3) V ice President, 31, experienced finance company and bank install ment loans, also real estate and commercial loans, personnel, ad vertising and public relations; 4) V ice President, 46, experienced all bank functions wants executive vice president spot; 5) Bank Pres ident, 44, looking for new chal lenge. Call or write: Personnel Services, Inc., 1200 First National Bank Bldg., Omaha, Nebr. 68102. $10.00 IS The price of a personal, air mail subscription to the Crouse Farm Business Reports. They help keep loan officers and ag representa tives ahead of the changing farm picture. Samples available. The Farm B usiness Council, In c ., P .O . Box F , Urbana, Illinois 61801. LISTENERS WANTED L a Salle National Bank, Chicago, offers brief, co n cise, informative and interesting stock market reports every hour on the half hour be ginning at 9 :3 0 a.m. as reported by Ed Cooper direct from the board room of Hornblower and Weeks— Hemphill, N oyes. Th ese reports can keep you and your customers abreast of the changing market. Tune in WGN radio, 720 on your dial—a 50,0 0 0 watt, clear channel station serving the midwest. The Stock Market Report Show is just another service from La Salle National Bank. Forya complète line of serv ices, write or phone L a S a lle National Bank, 135 South L a Salle Street, Chicago, Illinois 60690. (Area Code 312) STate 2-5200. EXCEPTIONAL OPPORTUNITY Second man in $11 to $12 million bank in one of Iowa’s finest com munities. Must have 10 to 15 years of varied lending experience with excellent background in commer cial lending. All replies held con fidential. Excellent facilities. Sal ary open. Position available im mediately. Send resume to this file. Our officers are aware of this ad. Write File LIB, in care of the NORTHWESTERN B A N K E R ,306 15th St., Des Moines, Iowa 50309- No. 1130 Northwestern Banker is published five times monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309- Subscriptions 50* per copy, $6 per year. Second class postage paid at Des Moines, Iowa. Address all mail Digitized forsubscriptions, FRASER changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
@FedFRASER